Boston, MA 03\/14\/2014 (wallstreetpr) –\u00a0It can take just one blockbuster drug to change the fortune of a drug company and take it into the billion dollar marketcap category. Dyax Corp. (NASDAQ:DYAX)<\/b> may well be poised to accomplish just that. Dyax\u2019s growth prospects rely on not one but two potential blockbuster drugs.<\/p>\n
Patented Innovations<\/b><\/p>\n
Dyax\u2019s proprietary Phage Display Technology allows for the rapid identification of molecules that bind with high specificity and affinity to targets of therapeutic interest. This speeds up the drug development process. Dyax offers licensing options under the Licensing and Funded Research Program (LFRP) whereby partners can access its revolutionary Phage Display Technology. Phage display has led to two drugs on the market: KALBITOR and Prizer\u2019s Xyntha \u00ae (solofuse). KALBITOR had sales of $40.5 million in FQ2013 and it is expected to grow by about 10%.<\/p>\n
There are 11 more candidate drugs in the pipeline undergoing clinical trials and many more preclinical trials. Three of these 11 are in Phase 3 trials for treating varieties of cancer. Two of these drugs are licensed with Eli Lilly and Co (NYSE:LLY)<\/b> and the third licensed with Amgen, Inc. (NASDAQ:AMGN)<\/b>. Ramucirumab \u2014 for non-small cell lung cancer \u2014 and necitumumab \u2014for malignant solid tumor \u2014 are licensed with Eli Lilly and are close to being available to the public after applicable FDA approval.<\/p>\n
Road to Profitability<\/b><\/p>\n
Dyax appears well-positioned to reach profitability within the next two years. Its cash expenses have declined from $36 million in FY2011 to $28 million in 2012 and $16 million in 2013. It had total cash reserves of $111.4 million and total debt of $82 million. It has five times more assets than liabilities. It ended 2013 with total assets of $134 million compared to $55 million at the end of 2012.<\/p>\n
While FDA approvals are not guaranteed for any drug in the pipeline, drugs in Phase 3 trials are that much closer to approval having crossed many hurdles on the way to market already. Dyax seems to be a good long term stock.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 03\/14\/2014 (wallstreetpr) –\u00a0It can take just one blockbuster drug to change the fortune of a drug company and take it into the billion […]<\/p>\n","protected":false},"author":32,"featured_media":17360,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[264],"tags":[2831,5206,5208,1520,5207,1769],"stock_ticker":[],"class_list":["post-17358","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-health","tag-amgen-inc-nasdaqamgn","tag-dyax-corp-nasdaqdyax","tag-eli-lilly-and-co-nyselly","tag-nasdaqamgn","tag-nasdaqdyax","tag-nyselly","entry"],"acf":[],"yoast_head":"\n